The Shanghai Pilot Free Trade Zone (FTZ) recorded a total import and export value of more than 900 billion-yuan (about 125.6 billion U.S. dollars) in the first five months this year, according to an official from China's General Administration of Customs.
At a press briefing on Friday, Du Chaoxin, head of the Free Trade Zone and Special Economic Zone Development Department of the General Administration of Customs, shared the statics with the media, noting that Shanghai FTZ contributed over 26 percent of the total trade value of all FTZs nationwide from January to May.
Guided by a November 2023 plan that positioned the Shanghai pilot FTZ as a pioneer in aligning with high-standard international economic and trade rules, the FTZ has introduced 80 pilot measures to build a national demonstration zone for institutional opening-up.
The measures have advanced in an orderly fashion and accumulated valuable experience, according to Du.
"For example, we've simplified, on a trial basis, quarantine measures for fruit that has already undergone quarantine treatment overseas, and promoted mutual recognition of regulatory data. On the premise of ensuring food safety, the measures have effectively reduced customs clearance times for businesses. So far, a total of 10,500 patches of fruit have been cleared under this model," said Du.
Looking ahead, the General Administration of Customs will continue to strongly support pilot FTZs in aligning with high-standard international economic and trade rules, deepening high-level institutional opening-up and accelerating institutional innovation to deliver more pioneering and breakthrough policy outcomes.
Shanghai FTZ sees over 900 bln yuan foreign trade in first five months
Shanghai FTZ sees over 900 bln yuan foreign trade in first five months
